Rbi Changed Current Account Rules for Customers – Rbi made significant changes in the standards of account opening, know what are the new rules

The Reserve Bank of India (RBI) made some significant changes in its current account standards on Monday. The central bank stated in its August 6 monetary policy that no bank would be able to open a current account ie a current account for a customer who has availed cash credit or overdraft facility from another bank, and now all transactions are cash credits, or Overdrafts will be done through account.

These standards were to come into force from November 5, but in the absence of some clarifications, the central bank postponed them until December 14. Now, according to the new circular, it will be mandatory for customers to open their current account or overdraft account in the same bank from which they are taking loans. Let us tell you that this rule will be applicable to those customers who have taken a loan of more than Rs 50 crore from the bank.

The Reserve Bank of India (RBI) made some significant changes in its current account standards on Monday. The central bank stated in its August 6 monetary policy that no bank would be able to open a current account ie a current account for a customer who has availed cash credit or overdraft facility from another bank, and now all transactions are cash credits, or Overdrafts will be done through account.

These standards were to come into force from November 5, but in the absence of some clarifications, the central bank postponed them until December 14. Now, according to the new circular, it will be mandatory for customers to open their current account or overdraft account in the same bank from which they are taking loans. Let us tell you that this rule will be applicable to those customers who have taken a loan of more than Rs 50 crore from the bank.